energy transition – Page 3

Petrobras CEO undeterred by energy transition, reveals goals to increase Brazil’s oil production

March 24, 2023

World Oil (Bloomberg) – Jean Paul Prates, the head of Brazil’s state-controlled oil company, isn’t deterred by the world’s energy transition. He says Latin America’s largest producer should keep increasing fossil fuel output for decades to come. “We will get market share,” Prates, Chief Executive Officer of Petrobras, said in an interview in Rio de Janeiro. “We may be

Investors start to realize the energy transition will take decades

March 9, 2023

Oil Price The issue of how to reconcile the energy transition with energy security is taking center stage at one of the world’s biggest annual energy conferences this week. At the CERAWeek in Houston, the top oil and gas executives share the industry’s view of the current state of the global energy system—the world needs oil and gas and will

Column: When science gets mugged for the media – a case study

February 22, 2023

BOE Report I walked past a truck in a parking lot the other day and I figured out what’s wrong with everybody. It was a good-looking new semi-small one, and, walking with my head down, watching for ice and muttering as usual, I almost walked into the side of it. There, staring me in the face, was a huge decal

Davos 2023: Big oil comes in from the cold on energy transition

January 20, 2023

Nasdaq DAVOS, Switzerland – A different type of energy transition has taken place at this year’s World Economic Forum (WEF) meeting. Unlike 2021’s COP26 climate conference in Glasgow, where oil and gas executives were personae non gratae, fossil fuel chiefs and renewable energy bosses sat cheek by jowl in Davos. Activists like Greta Thunberg don’t like it. But some in the

Looming copper shortage could slow the global energy transition

October 31, 2022

Oil Price The pace of the energy transition could be slowed by a looming shortage of copper, analysts and top copper producers say. “There is going to be a very significant shortage in copper,” Richard Adkerson, chairman and CEO at U.S. copper producer Freeport-McMoRan, the world’s largest listed copper miner, told the Financial Times. The decarbonization drive will increase the

A coming copper shortage could derail the energy transition, report finds

July 14, 2022

CNBC An all-electric future depends heavily on copper, and looming supply shortfalls could hamper nations’ goals of reaching net-zero emissions by 2050, according to a new report from S&P Global. Unless significant new supply becomes available, climate goals will be “short-circuited and remain out of reach,” the report says. Electric vehicles, solar and wind power, and batteries for energy

Energy transition still means billions in fossil-fuel investment

April 21, 2022

World Oil (Bloomberg) — The energy crisis triggered by Russia’s invasion of Ukraine is increasing the world’s motivation to shift to low-carbon energy, but is also creating a near-term scramble for fossil fuels that will drive billions of dollars of new investment. The U.S. and European countries are planning liquefied natural gas terminals that will be in service for decades.

Shell’s board of directors sued for ‘failing to properly prepare’ for the energy transition

March 15, 2022

CNBC Shell’s board is being sued for failing to prepare the multinational oil and gas company for the transition away from fossil fuels. Environmental law firm ClientEarth, a Shell shareholder, said Tuesday that it had notified Shell of its claim against the company’s 13 executive and non-executive directors. It argues the board’s failure to implement a climate strategy that truly aligns with

Russia warns of power price spike if energy transition is hasty

February 2, 2022

Nasdaq MOSCOW, Feb 2 – A rushed transition away from fossil fuels risks driving electricity prices higher, a senior Russian official said on Wednesday, responding to German government comments that an EU carbon tax may make renewables more attractive in Russia. Russian Deputy Energy Minister Pavel Snikkars said Russia was ready to support global efforts against the negative consequences of

Aramco CEO says energy transition “not going smoothly”

January 27, 2022

Nasdaq BEIRUT, Jan 27 – Saudi Aramco Chief Executive Amin Nasser said on Thursday the energy transition “was not going smoothly”, pointing to a resurgence in demand for oil and gas as the global economy recovers while supplies lag on the back of falling investment. “We all agree that to move towards a sustainable energy future a smooth energy transition

Saudis foresee oil price spikes from energy transition efforts

December 14, 2021

World Oil (Bloomberg) –Saudi Arabia’s finance minister echoed warnings from the kingdom’s oil officials that a slowdown in fossil-fuel investment globally will cause spikes in energy prices. “We have very serious concerns that the world could run short of energy if we are not careful in managing the transition,” Mohammed Al-Jadaan said. “In Saudi Arabia, we have an interest in

OPEC sec gen says energy transition can not exclude fossil fuels

December 8, 2021

Nasdaq HOUSTON, Dec 8 – The COP 26 climate change conference largely excluded the oil and gas industry, OPEC Secretary General Mohammad Barkindo told a gathering of oil officials on Wednesday, arguing producers need to be included in planning for a transition to cleaner fuels. Speaking at the World Petroleum Congress, Barkindo took up the themes of several earlier speakers

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